21 inspiring business role models loved by entrepreneurs

21 inspiring business role models loved by entrepreneurs

21 inspiring business role models loved by entrepreneurs

March 08, 2023

21 inspiring business role models
Having business role models is an important part of entrepreneurship. Business role models inspire you to do and be better. They show you that success is achievable, no matter if you’re from the Upper East Side or a tiny rural town. Looking up to business role models pushes you to dream bigger and achieve more.

Although when speaking of inspiring entrepreneurs who are great business role models 90% of the time you’ll hear names like Bill Gates, Steve Jobs, Jack Ma and Jeff Bezos, the number of zeros on someone’s bank account doesn’t mean they’re a good role model. On the contrary, you can find your business role model in your mother, a local entrepreneur, or even in a person with no entrepreneurial background. This list proves just that: business role models come in all forms. The only thing important is that they get the best out of you with their way of living and work.

Jump directly to: 

 1. Alan Mulally

 2. Anita Roddick

 3. Gordon Ramsay

 4. Marie Forleo

 5. Robert Kiyosaki

 6. Rachel Hollis

 7. Keith Cunningham

 8. Sara Blakely

 9. Evan Spiegel

 10. Joanna Gaines

 11. My father

 12. Emily Weiss

 13. Kate Kendall

 14. My parents

 15. Mellody Hobson

 16. Mike Adenuga

 17. Michelle Obama

 18. Reginald F. Lewis

 19. Arianna Huffington

 20. Richard Branson

 21. Chelsea Clarke

 22. Conclusion

21 business role models who inspire entrepreneurs

You’ll notice this list is made of just as much female business role models as male ones. Sadly, for this to happen we had to make extra effort to get the names of the ladies found below. 

Namely, more than 80 entrepreneurs were eager to share their business role models with us, and only 2 of them had named females that inspire them. In fact, the bigger portion of them didn’t care to look past the most famous billionaires on the planet (Elon Musk and his likes). What was surprising was that even women were dropping this type of names. 

So we had to try again and look specifically for female role models in order to make this list in compliance with our stance for gender equality.

The reason we’re sharing this with you is to encourage you to seek inspiration in the secret powers women in business have just as much as you do in men. You’ll learn so many new business lessons, and find new aspects of business to be passionate about and lead you ahead.

Alan Mulally

My business role model is Alan Mulally. From writing this piece about him a few years ago, I have been lucky enough to start up a relationship with him as he read it a few months ago.

I have had the chance to ask him my question which is, “Why don’t more people run companies like him and other highly successful leaders?” since the things they focus on are almost exactly the same. His answer was that it is hard. You have to be a loving human but also hold people accountable to the standard that was set.

Bill Flynn, Growth Coach/Teacher at Catalyst Growth

Anita Roddick

Anita Roddick, the founder of The Body Shop, has always been my business role model. We’ve always had the same vision and objectives in doing business – money shouldn’t be the priority and that passion should come in what you do. 

She’s also very brave in speaking what she thinks and I can see myself in her. In fact, I’ve always dreamt of having a team where everyone can speak their concerns and ideas without feeling bad about it. Anita has always inspired me to be ethical and see the business world in a humanitarian sense

If I could still get the chance to meet and ask her a question, it would be, “Would you be pleased to receive a gift box from The Body Shop if you weren’t the founder?”

Valentina Lopez, Co-Founder of Happiness Without

Gordon Ramsay

My primary business is a fish and chip shop takeaway fast food restaurant. I have been in this industry for over a decade now and always been inspired by Gordon Ramsay! At first glance, he may not appear to be the polished entrepreneur you would come to expect from the likes of high banking or the Silicon Valley tech wizards.

But nonetheless, Gordon is an entrepreneurial rockstar and has amassed a fortune from his restaurants, TV work and books! I think the thing that inspires me most about his journey is his tenacity and ability to adapt in the face of adversity. He was on a path to become an elite footballer, but after suffering injury, made a change into cooking, and is now one of the world’s most formidable chefs.

He spent hours upon hours, often working late into the early hours of the morning practising his cooking techniques so he could become the best. I admire this work ethic so much, and it inspires me to push through my recent Type 1 diabetes diagnosis aged 33 and continue with business to make it work (despite recent world events).

If I could ask him one question, it would be “How do you motivate yourself to work the long hours, and maintain the quality and enthusiasm that you do?”

Chris Panteli, Founder of LifeUpswing

Marie Forleo

My female business crush is Marie Forleo. I love her for her creativity, vulnerability and her ability to write copy! Marie has taught me the value and skill of being yourself. She dances at the drop of a dime and doesn’t care who’s watching. I, myself, also like to shake a leg on the dance floor. The way she has been able to grow her business, offerings and followers has been magical. She also gives away a ton of valuable content for free. And every episode of Marie TV is a burst of energy.

I would ask her, “How did you find your Niche? What one thing were you judged for that turned out to be your Super Power? What was one thing that they told you not to do, that was just what needed to be done? Would your 6 year old little girl be proud of who you became?”

Tajuana Hill, Owner and Operator at Mimosa and a Masterpiece

Robert Kiyosaki

My business role model is Robert Kiyosaki. I went to a seminar of his in 2000 while I was a university student. He talked about the benefits of being a business owner over an employee and my whole mindset (and life) shifted that day. 

When I graduated I didn’t get a job and started my own business. I had read all his books and audio programs and one of the things that stuck with me was that you don’t get rich buying shares, you get rich selling shares. What he meant by that was build a business and sell the shares. 

20 years after that seminar and one of my businesses is about to IPO on the Australian Stock Exchange. I stopped my operational capacity at that business 2 years ago also taking his advice to use your business to buy property. I am now flipping houses and building a rental portfolio to create passive intergenerational wealth. 

I actually did meet him again 2 years ago at the New Orleans Investment Conference. I didn’t ask him a question, I just thanked him for everything he had done for me.

Steve Keighery, Founder of Home Buyer Louisiana

Rachel Hollis

Rachel Hollis is my favorite business role model because of how raw and real she is. We’ve never met, but I feel like I know her and that she cheers me on my journey.

She’s taught me to stay true to my authentic self. She reminds us just how capable we are on reaching our goals. She’s taught me that it’s okay to be vulnerable on your entrepreneurial journey.

Rachel has a tattoo on her wrist that says “mogul”. Her story has reminded me that we all have to start somewhere. She’s struggled and has had her own setbacks, yet she’s still succeeding. She owns her own company, is a best-selling author, and hosts conferences on tour. She’s a huge inspiration to women all over the world.

If I could ask Rachel a question, I’d ask her how she attains a healthy work life balance? She has four kids, multiple businesses, and constant press and media tours. As someone whose business is growing, I’d like to obtain a healthy work-life balance myself. How does she get it all done?

Also, I’d ask her what my “word” should be for my wrist tattoo. Ha!

Autumn Grant, Owner and Founder of The Kind Poppy

Keith Cunningham

Someone who has had a huge impact on my business is Keith Cunningham. In a world of social media business gurus, he is a true practitioner of creating wealth through business ownership.

He’s taught me a lot about how to think strategically in my business, be long term focused, and focus on internal processes and improvements we can use to grow.

One of my favorite sayings from him is Growth is about what happens internally. That inspired me to spend less time thinking about sales, sales, sales and more time focusing on people, processes and strategic moves.

If I got a chance to meet him I would ask him what is the #1 habit he looks for in team members to make sure he hires the right people for his companies.

Brice Gump, Founder and Owner of Major Impact Media

Sara Blakely

My female business role model is Sara Blakely, the founder of Spanx. What I love about her is that she sees failing as something to aspire to. Apparently her father asked her every evening at dinner “How many times have you failed today?”

Most of us grow up to fear failure, and that keeps us small. But if we turn it around and make failure something to aspire to, it helps us take more risks in business and ultimately, to innovate more. Sara’s phenomenal business success based on innovation is a great testimonial for that.

If I met Sara, I would ask her what her proudest failure was, and what she learnt from it.

Bianca Riemer, Founder of the Leap into Leadership program and hypno coach

Evan Spiegel

Although he is younger than me, I greatly admire his resolve and business intuition. In the now-infamous story, Evan turned down a $3 billion offer from Facebook to buy Snapchat back in 2013. Despite having $3 billion waved in front of him, which almost anyone else on Earth would take, he had the willpower to say ‘no,’ trusting himself and knowing his company would be worth much more than that someday. He believed in himself, his employees and his goals so strongly that he had the gumption to turn down the payday of a lifetime which others only dream about. This is a very telling example of how having confidence and staying the course can pay dividends.

My takeaway from that story and his career trajectory generally, is to believe in myself, my team and what we are working towards. When you combine smarts with hard work and a solid business instinct, you’re destined to go far. Be adaptive and flexible, but always keep your goals in mind and don’t get distracted by the small stuff.

If I ever met Evan, I would ask him what his process is for analysing new ideas that his employees bring him. I can imagine that every day he is bombarded with suggestions and proposals for new revenue channels and modifications to their current operations. How does he analyse such proposals and make a decision? I’d love to know his process, and whether he acts more off of instinct or is data-driven.

John Ross,President & CEO at Test Prep Insight

Joanna Gaines

Thinking of business role models the first person that pops to my mind is Joanna Gaines. The only thing matching her warmly polished interior design skills, is her entrepreneurial mind. Her immense love about everything she does makes it look like it’s not business, but just her way of living. And while partially that’s true, there’s no doubt she knows how to monetize her passions. Be it interior design, book writing, real estate etc.

Her mellow temperament and loving personality have taught me that you don’t have to be unscrupulous to succeed in business and in life. On top of that, she showed me that you can have a family and be present in their lives while also having several ventures under your belt.

If I ever meet her I’d probably lose my cool and my ability to think and ask her some stupid question, and later regret it.

Claudia Henry, Founder of Twelve

My father

I’m a fourth-generation owner of a commercial construction business based in St. Louis, and I grew up learning about (and eventually going into) my family’s business from my role model who also happens to be my father. 

He taught me three primary lessons that help me every single day: listen more than you talk, negotiate fairly, and treat everyone – no matter who they are or what they do – with respect. 

Those lessons have been passed down through the generations and have been the foundation for what’s kept us in business since 1904.

Tim Spiegelglass, Co-Owner of Spiegelglass Construction Company

Emily Weiss

One of my business role models is Emily Weiss, the founder and CEO of Glossier. I admire the brand that she has built from her blog Into the Gloss. She created a billion dollar beauty brand that is a favorite of millenials and gen Z make-up lovers around the globe. 

She has inspired me to be focused, determined and hire talented people who are experts in their field so that they can help bring my vision for Dr. Brite into reality. 

If I got a chance to meet her, I would ask her how and why she decided to scale from online Instagram launch to storefront?

Paris Sabo, MD, COO at Dr. Brite

Kate Kendall

Kate Kendall is one of my main business role models. Kate is a British-Australian indie entrepreneur, community builder, writer, and advisor. She’s the founding director of Indie Labs: a startup advisory studio and product firm that includes Atto.VC, The Fetch and IndieConf. She also founded CloudPeeps: a trusted freelance marketplace platform, raising $1M USD from top-tier investors. 

I admire her for her leadership, fierce work ethic and determination. If I could ask her one question, I would ask “What sparked your initial interest in entrepreneurship?”

Jordan Smyth, CEO & Founder of Gleamin

My parents

My mom and dad owned and ran a washateria for about 4 years. It was never wildly financially successful but they never sticklers over a couple of dollars.

They never worried over customers they felt were trying to pull one over on them. I specifically remember a day when a customer came up to the counter and complained that the machine did not dry their clothes. It was maybe the equivalent of $1.25. My mom apologized for the inconvenience and gave the customer their money. After they left, I noticed the customer taking their clothes out of the dryer and it looked dry – it didn’t have that wrinkle look you get when clothes are finished in the wash. 

I asked my mom why she just gave up the money when it was clear they were lying. She said something that stuck with me till this day. She said that for us it was the equivalent of running the machine for a few minutes. For that person, it was the difference in maybe having clean clothes for the first time in weeks. That if they were asking for that money back, maybe they really needed it. It’s made me more empathetic running my business these days.

Hana A., Owner of Giftsfor

Mellody Hobson

Mellody Hobson is my business role model. She doesn’t seek the spotlight but has a magnetic personality and passion that captures everyone around her. She comes from a very humble working class (and Midwest) background like myself. I’ve loved watching her rise up and break so many stereotypes. 

I’ve had the chance to present to her recently but didn’t have a “real” conversation. If I had that opportunity, I would love to dig into how she is raising her 7 year-old daughter in light of all of the opportunities more accessible to females and minorities. Also, I’d like to ask about times she was ready to give up whatever she was she was doing. I believe knowing the hardships one encounters (not always public) and the way they overcome shows such true character.

Kelly Parthen, Co-founder of Bean Sprouts

Mike Adenuga

The Nigerian billionaire, Mike Adenuga, is my business role model. I admire how his modesty overshadows his riches. Nothing more strikes my core than watching someone rich and powerful yet bowing down. 

I learned about Mike Adenuga’s modesty, but when I read in the papers that he once went to his knees and lay face down before somebody he was much wealthier than, I made up my mind to be like him.

Matt Scott, Owner of Termite Survey

Michelle Obama

My female business role model is Michelle Obama. Though she does not like politics and is a successful lawyer herself, she supported her husband completely during his run for the presidency and while in office to the point where she made almost as much positive impact as he did.

I’ve learned from her that no matter how humble your beginnings, what matters is to discover your passion, be true to your own heart, be kind to others, and walk the walk. She inspires me every day as I run Speakfully, an HR tech tool to ensure a healthy workplace culture, and to bring a more positive, just, and fair work environment to our corporate communities.

If I ever got to meet her, I would ask what has helped her when she felt most depleted to continue forward.

Jana Morrin, CEO and Co-founder of Speakfully

Reginald F. Lewis

My business role model is the late Reginald F. Lewis. He was a lawyer and businessman and had the first billion-dollar transaction by a Black man in America. He was also a philanthropist, husband and father. He wrote his autobiography “Why Should White Guys Have All the Fun?” and passed away at a relatively young age.

He inspires me because he was unapologetically himself at all times. He embraced his culture and always remembered his beginnings. He didn’t cower under pressure or when people questioned his confidence, and he was thoughtful and decisive. Somehow he ‘knew’ his time was limited and he accomplished a great deal before his death (much like the late Chadwick Boseman). 

If I had the chance to meet him, I’d ask him what he thinks is the most important characteristic or skill for success in business. And whether he believes business people/entrepreneurs are born or made.

Michelle Y. Talbert, Esq., Founder/Chief Curator at Her Power Space

Arianna Huffington

Even before I became an editor, I am fond of reading a lot of books and news made by famous people. One of my great inspirations as an editor is Arianna Huffington, the founder of one of my favorite sites, The Huffpost. 

She was my great influence because by reading all her contents and books, I was inspired to build up my own career. Aside from being a founder, she was also an editor, columnist, author and a businesswoman and I just can’t imagine how she had struggled all these roles together all at once. 

If ever I will have a chance to meet her, I will thank her for being an inspiration to aspiring entrepreneurs and writers like me. I will also take this opportunity to ask her for advice and tips on how to handle all the challenges with grace, and how to keep on hoping despite the setbacks one has to face in building her own business. 

Samantha Moss, Editor and Content Ambassador at Romantific

Richard Branson

My business role model is Richard Branson for obvious reasons. Business should be fun. It should be about creating something that doesn’t exist by bringing together people of various backgrounds to grow and progress with the idea itself. It can be a beautiful thing and after reading Richard Branson’s autobiography for the 4th time, it’s clear this is how he approaches life and business. 

Whether it’s circumnavigating the globe in a hot air balloon or breaking the US to England crossing boating record, the man knows how to have some fun. When I make decisions or even go back to the basics of why we do what we do to begin with, I recall his experiences to remind me that business is a creative process that should be filled with the love and cooperation of a multitude of talented individuals.

If I have the chance to meet them, I’d probably inquire about societal problems he thinks are the most important and how he’s going about solving them. I’d also ask what he believes to be the point of life. A bit more in the clouds but an important question nonetheless.

Rishav Khanal, CEO of inPerson

Chelsea Clarke

My current business role model is Chelsea Clarke, a female business owner and the founder of Her Paper Route. This year alone, she’s on track to bring in nearly $500,000 (in a pandemic!) with her blogging businesses. 

But my reasons for looking up to her go a little beyond just the income generated. She’s truly a visionary in the blogging industry, and her approach to growing her own platform, as well as other blogs that she then sells, has helped me understand that every website is a valuable piece of online real estate. And just like fixer-uppers, you can turn a dead blog into a profitable one! 

She’s a true inspiration for me and has pushed me to think bigger when it comes to my own online business. If I would get a chance to meet her, I would ask her: “What is the one non-negotiable task that you do every single day that has greatly impacted your business growth for good?” 

Ana Skyes, Founder of The She Approach

Conclusion

You may have started reading this list thinking you don’t have a business role model. But slowly, as you progressed through it a few names of people that inspire you came to your mind. The good thing about business role models is that you can have them as many as you want. They can change as you reach different stages in your entrepreneurial journey. Or it can be one role model forever. There’s no wrong or right in having business role models.

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REST API: What it is and how does it work

REST API: What it is and how does it work

REST API: What it is and how does it work

December 20, 2022

What is a REST API and how does it work<br />

A REST API is a service that lets you build applications that interact with your program. It’s a powerful tool that allows clients and users to access data from your website or application without having to rely on browser-based user interfaces or other software platforms. You can use a REST API for several purposes, including:

Before you begin

Before you begin the process of developing a REST API, there are a few things to keep in mind. First, what is a REST API? A REST API stands for Representational State Transfer Application Programming Interface. It refers to an application programming interface that uses HTTP requests over a network connection to access data and can be used with any type of client software as long as it follows the protocol guidelines specified by the server.

It’s important to note that a REST API does not store or manipulate data on its own—it simply communicates with other applications like web browsers or mobile apps over HTTP. This means that there will only be one point of contact between your application and your database; it also has many benefits for security purposes since each request is password protected (by default).

How a REST API works

You’ve probably heard of REST (REpresentational State Transfer) APIs, but are unsure how they work or how to use them. A REST API is a set of rules that define how a client can interact with a server. The client interacts with the server using HTTP methods, like GET and POST, which are more commonly used in web browsers. The server responds to requests from the client by sending back an HTTP status code (200 OK is standard), along with data formatted as JSON or XML, for example.

Why should you use a REST API

There are a variety of reasons why you might want to use a REST API for your project. One reason is that REST is a common standard for APIs and has become the de facto method of creating web services. Another reason is that it’s lightweight and easy to learn, making it ideal for mobile applications. If you’re going to use an API in your project, it’s likely going to be used by both web applications and mobile apps—REST makes sense there because they both need access to the same types of information (a user’s data, photos from their camera roll).

What are some common features of a REST API

To use a REST API, you need to understand some key concepts and terms. Let’s take a look at some of the most common features:

  • RESTful design: The architectural style that underpins most modern APIs. It defines how you should set up your API, what type of data it will return, and how clients can interact with it.
  • HTTP verbs: The four methods available for accessing resources on an endpoint are GET, POST, PUT and DELETE (read more about them here).
  • HTTP status codes: These indicate whether something went wrong when you tried to access a resource or if everything worked as expected. For example, if you try to access an invalid URL in your browser it will show “404 Not Found”, which tells us there was no resource found at that address on our server!

What are some common examples of a REST API in use

You may have used a REST API without even knowing it. Some of the most popular websites in the world, including Twitter, Facebook, and LinkedIn all use REST APIs to power their websites. If you’ve ever used Google’s search engine or visited any of the e-commerce websites on Shopify’s platform (such as those listed above), then you’ve also interacted with a REST API!

How can you design and maintain a successful REST API

  • Design the API first.
  • Use HTTP verbs to define the action.
  • Use a standard format to describe the data.
  • Use a standard format to describe errors, if any (which should be few and far between).
  • Use a standard format to describe responses, if any (which should be many).
  • Keep the API focused on its purpose: one resource, one action, and one response format per call

Conclusion

When designing a REST API, there are some important things to keep in mind. You should begin by deciding on the data structure and the format of the data that you want to serve. Then, you can set up your server and application logic so that they will both work with this new type of client request—and remember that these clients may be coming from anywhere in the world! Finally, make sure that your design meets all industry regulations before launching into production use.

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Great writing apps that help to boost your academic skills

Great writing apps that help to boost your academic skills

Great writing apps that help to boost your academic skills

December 20, 2022

Great writing apps to help you with your academic skills

It is very hard to write various academic papers and meet the different demands they have. Students have to sharpen all kinds of academic skills because each can be applied during a certain stage of fulfilling an academic project. You never know which one will be needed. That is why many smart learners use special tech apps to check possible errors and improve their academic skills.

There are many excellent writing apps that help to control a lot of processes and stay away from all sorts of mistakes. We have analyzed the best 5 tools that are perfect in their directions – grammar, plagiarism, topic selection, editing, and citing. Mind that the apps we intend to highlight in our critical overview are free apps to improve writing skills. Although some of them offer paid versions, you can always use them for free to never spend your money.

Grammarly

First of all, we will start with a grammar checker called Grammarly. We have decided to start with grammar because all students have these or those issues related to this aspect of writing. Grammarly is the best in its niche for many consecutive years. This English writing app offers the next benefits:

  • Checkup of grammar, spelling, and punctuation
  • Checkup of word choice
  • Fast scanning of the text – 15-30 seconds
  • Integration into Microsoft Office and Browser
  • Correction of mistakes instead of you
  • Smart and user-friendly interface
  • Plagiarism checkup

As you can see, it offers a wide range of benefits for every writer. It marks the mistakes and offers commonly correct corrections. Besides, you can use it as a plagiarism checker. Perhaps it’s not the most reliable checker. Nonetheless, you can combine it with another similar plagiarism-checking tool for better outcomes.

Quetext

Plagiarism checkers must be constantly on the list of apps for writers. You have no right to plagiarize other authors, even accidentally. To be sure you never do that use Quetext. It’s a reliable, modern plagiarism checker that uses:

  • Deep search technology
  • Fuzzy matching
  • Conditional scoring

It compares your text with others to underline any possible signs of plagiarism. You will even learn the source that you have plagiarized.

HubSpot

Not all students are good at selecting relevant topics. So, they need HubSpot to get help with writing great topic lists for every assignment type and in every academic subject. You only need to write a few words and the machine will create 15-20 topic ideas by using those words.

The Hemingway Editor

If you are focused on improving your writing skills, a good digital editor is one of the compulsory tools. The Hemingway Editor will help to boost the readability of your texts. It underlines the next drawbacks:

  • Too long sentences
  • Sentences or sections that are hard to read
  • Overuse of adjectives and adverbs
  • Overuse of the passive voice
  • Words that have simpler meanings
  • Correction of mistakes instead of you

Citation Machine Plus

Students require help in writing their academic papers because of many issues. One of them is the issue of formatting and inserting their citations. If you use Citation Machine Plus, you may forget about this trouble. It offers paid and free versions. As promised to highlight free options, we will focus on the features you enjoy if you use a free version.

It helps to check 7000+ academic writing styles! This is an incredible proposal. You can check whatever style you may need to be sure you have inserted your citations correctly. Besides, this version checks the first 5 grammar errors.

This is one of the most resourceful apps for writing due to other crucial features. It also offers an in-built grammar checker, as well as a plagiarism checkup function. As a result, it combines 3 various aspects of writing academic papers.

Of course, you need to understand that such a combination isn’t perfect. The tool was created to check plagiarism. Grammar checkup isn’t as dependable as you may count on. Plagiarism checkup isn’t 100% confident as well. Therefore, you’d better use Grammarly to check your grammar and Quetext to check plagiarism.

Conclusion

The use of the right writing app is always beneficial for every student. It controls a lot of vital processes and its functions help to improve your skills, as well as avoid mistakes. The better writing app you find, the better benefits you will enjoy. We have highlighted several quite different tools. You can use them all for every academic paper you need to write. Apply them in turn to check the availability of various kinds of errors. Thus, your papers will be free of them to provide you with the highest grades. You will need to essay writers for hire if you use these helpful tools regularly.

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Operations and logistics management: 9 ways to ensure quality processes

Operations and logistics management: 9 ways to ensure quality processes

Operations and logistics management: 9 ways to ensure quality processes

December 19, 2022

Strategies for operations and logistics management
Every organization is responsible for planning, managing, and implementing the right processes to move and store goods. Furthermore, they must ensure that the goods are delivered to their customers on time. These activities are daunting, but they’re manageable through proper operations and logistics management

Logistics management allows the safe and timely transport of products from one place to another. Additionally, using a delivery management software can help any organization with lowering costs and satisfying customers.

Strategies that will improve your operations and logistics management

Here are some strategist to help you with your logistics management.

Choose the appropriate warehouse facility

Looking for an appropriate warehouse facility that suits your goods for storage is crucial. This facility should offer storage racks and handling equipment that you can use. 

For cost-effective facilities that allow you to access cutting-edge technologies, improve your scalability and flexibility, and achieve better customer satisfaction, you should choose a 3 PL warehouse. In line with this, exploring efficient warehouse storage solutions can further enhance your operational efficiency. By incorporating the right storage equipment, you can optimize space usage and streamline your inventory management, contributing to overall logistics effectiveness.  For example, implementing Modula WMS can help you maximize storage capacity, utilize space at an optimum level, and make it easier to locate your goods. This warehouse will help you maximize storage capacity, utilize space at an optimum level, and make it easier to locate your goods. 

Plan thoroughly

Planning has always been part of any process. Without this, you’re more likely to fail, which you don’t want. When you plan to improve your logistics management, you should set your goals first. 

Your goals will provide a clearer vision for your organization and guide you through establishing practical strategic actions. After that, you can start planning for everything else, including how to procure your goods, manage your storage facility, and deliver your products efficiently. 

Do backup planning

There is no such thing as a foolproof plan. You can make several mistakes along the way. There will be chances when your initial strategy will work out differently than planned due to logistics issues. But if you’re a proactive person, you can handle these things immediately. 

Learn from your mistakes and embrace change

People who learn from their mistakes are not deemed to repeat them. So if you’re into improvement, you should be one of these people. Sometimes, it’s hard to admit your mistakes, but it’s one of the ways for you to learn.

Instead of simply being frustrated, why not work on process insufficiencies and make changes? Put yourself together, and get the work done. But this time, do it with more enthusiasm and more openness to something new.

Hire the best people

One of your resources are your people. They can offer more for your organization. Therefore, you should invest in them. Provide training to enhance their knowledge and skills. Treat them as an asset instead of a liability. Then, you can expect progress from them.  

However, sometimes they will be tired, and they need enough motivation. Since they’re working hard for the organization, consider giving extra credit to those who deserve it or offering them something beneficial. Remember: It’s not only your customers that you must satisfy. Your workforce needs your attention too.

Build good relationships

In an organization, it’s vital to have open and honest communication. You should ensure that your staff communicates regularly to avoid misunderstandings, conflicts, and tension. Moreover, employing a logistics manager with excellent interpersonal skills would be best to guide your workforce to communicate more effectively.  

Building good relationships should also be applied outside the organization.  It would help if you also practiced connecting with your customers and suppliers. That way, you can retain and develop working and customer relations.

Adopt workflow automation

Technology makes everything easier. Many sectors are currently using it to ensure work efficiency, allowing them to save time and effort. In addition, it boosts productivity which helps an organization. Therefore, why not consider workflow automation as well? Technology is an investment. Besides, it will help your workforce lighten their workload.  

Ensure effective transportation

When planning, the transportation of goods is always included. You should adequately package your goods to protect them from damage. Moreover, you should identify the shortest and safest route to deliver the goods to their destination.  

Measure performance consistently

After delivering your goods to your customers, the process continues. This includes evaluating the performance of your existing strategy and processes. After all, how do you know you’re hitting your targets and fulfilling your maximum potential if you don’t do any form of evaluation?

You must obtain feedback to gain insights like cycle time and costs and use valuable measurement tools and software to analyze them. These will assist you in further improving your tactics in every aspect. 

Conclusion

For most organizations like businesses, especially in the manufacturing sector, operations and logistics refer to the movement of goods. It’s essential to improve operations and logistics management because this will increase work efficiency, reduce costs while maintaining higher production rates, and provide better inventory and warehouse control. As a result, you increase supplier satisfaction and improve customer experience. All of these will lead to more revenue.

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Investor vs entrepreneur: 10 main differences

Investor vs entrepreneur: 10 main differences

Investor vs entrepreneur: 10 main differences

December 19, 2022

Differences between investor vs entrepreneur

Because many think that entrepreneurs and investors have similar responsibilities, there is often confusion between these two roles. An entrepreneur is a person who launches a company intending to invent or innovate a particular good or service while being willing to accept all the risks of failure to generate money. An investor is a person or a group that provides capital to a business in exchange for the expectation of future gains and profits.

An entrepreneur concentrates on his company and related operations. Profits are an entrepreneur’s primary goal. In contrast, an investor puts his money into an existing company. When a business is profitable, an investor receives a predetermined amount of the dividend.

These business profiles differ slightly, and we will explain what are the main differences between investor vs entrepreneur profiles as well as the advantages and disadvantages of each of them.

Main differences in investor vs entrepreneur

Both profiles share the same levels of ambition, skill, and risk tolerance, but also they have some differences. So, let’s take a look at what makes different investor vs entrepreneur.

Business idea

In both of them, the main focus is working around business opportunities and ideas but the way of the approach is a bit different. An investor can concentrate on current business ideas, whereas an entrepreneur may focus on developing new business ideas.

Connection

It’s very common for these two profiles to interact with each other during making business. The entrepreneur typically contacts investors to finance the equity of his business, investors seek out entrepreneurs who have the potential to generate returns on their capital through profitable investments.

Investments

Regarding investing, both of these profiles have different approaches. An investor primarily invests money in the business project, whereas an entrepreneur adds ideas and passion to the business project, although may also invest money later.

Personality

Even though they have the same sense of starting a business idea, they have different personalities. An entrepreneur is passionate and dedicated to his idea and would stay to it despite having losses or a period of breakeven. An investor is practical and rational about a concept and may quit it when losses occur.

Focus

Just like with character and their focus is entirely different when it comes to developing a business idea. An entrepreneur tends to be more upbeat about his company, which makes him an optimistic profile, whereas an investor is more negative and more focused on what could go wrong which makes him a pessimistic profile.

Prioritizing

When it comes to prioritizing things and putting more emphasis on something, these two profiles are quite different, because they prioritize other aspects of their businesses. Entrepreneurs prioritize the qualitative aspects of their companies, whereas investors prioritize the quantitative or financial aspects.

Return on investment

They have different expectations when it comes to initial investment and returns on investment. An investor expects more in terms of return on investment when investing money in a business than an entrepreneur does when investing initial capital at the beginning of a business.

Calculations

The entrepreneur and the investor make initial calculations, but the main focus differs. Investors typically calculate the return on investment and arrive at an approximate or estimated value, whereas entrepreneurs focus on calculating the most precise amount.

Initial capital investment

When it comes to investing money in the early stages of business development, entrepreneurs have advantages over investors. While investors need capital to begin investing, entrepreneurs can launch their businesses without it.

Management

Although both can be business owners, an entrepreneur controls the company and is more familiar with its operations, sales, and even the emotions and behaviors of its staff and customers, whereas an investor may just be familiar with the company’s financial and quantitative statistics.

Advantages of being an entrepreneur

Like any other profession, entrepreneurship has both advantages and disadvantages. Here, are some of the advantages that entrepreneur faces.

Own boss

Being your boss and being able to do whatever you want gives you a great deal of freedom, which is a key benefit of being an entrepreneur. Of course, you are in charge of how the business performs, but you still have the freedom to choose when you want to work and when you want a break.

Flexibility

Because an entrepreneur doesn’t have to stick to a strict schedule, you can have flexible working hours whenever you like. If you don’t want to go to the office, you can work from home instead. As you can spend more time with them and can take better care of your children, this is advantageous for both you and your family.

More money

If you want to make a lot of money, starting your own business is the greatest option. If you work for yourself, becoming an entrepreneur can make you rich and influential. 

Disadvantages of being an entrepreneur

Here, are some of the disadvantages that entrepreneurs have.

Lonely routine

Since you have to make all of your own decisions, becoming an entrepreneur is typically a lonely endeavor. So if you are not the type of person who likes to work solo, then think twice before you make a decision and enter the business world as an entrepreneur.

Financial Stress

Because there are so many potential risks, you will occasionally experience financial stress. Also, because of how competitive entrepreneurship has grown, businesses prefer to hire entrepreneurs who are less expensive.

Health issues

Poor health goes hand in hand with the race of chasing money. It’s common to hear that entrepreneurs experience high levels of stress, which harms their health. Throughout their careers, many entrepreneurs experience burnout or depression, which is rarely talked about in public, but you should be aware of it.

Advantages of being an investor

Similar to entrepreneurship, investing has its advantages and disadvantages, some of the advantages are.

Accurate capital estimation

If you are an investor, you will be aware of the amount of capital needed to launch a business. As a result, you won’t have to waste time researching alternative companies or business concepts and can instead put both your resources into the chosen company.

Simple routine

Investing is the least active way to get money. It’s appropriate for you if you are interested in marketing but don’t want to devote your entire day to it or make it a regular part of your schedule.

Regular income

If you are retired or on the verge of retiring, you will be seeking a source of income that you can use to pay your bills. Being an investor, you can therefore put your money to good use by buying stocks, bonds, and real estate.

Disadvantages of being an investor

Here, are some of the disadvantages that investors face.

Difficult to start with

Being an investor can be challenging initially, as it involves risking your capital before making a profit.

Risks

As an investor, you must be prepared to deal with any risks, which might cause serious problems because you have already made significant investments and will be greatly disturbed if you suffer a loss.

Slow operation

As an investor, you must wait a long time before your company expands or the price of shares rises so that you may sell them. You must have patience in a long run. 

Conclusion

Even though these two profiles share the same business background, still, their vision is quite different. Working as an entrepreneur or investor has advantages and disadvantages. In entrepreneurship, the risk is higher as entrepreneurs have multiple responsibilities and must work diligently to achieve profitability. Compared to an entrepreneur, an investor will not have as many duties or as much work to do, but it costs a lot of money to start investing. Ultimately, the choice between being an entrepreneur or an investor depends on your personal preferences and circumstances.

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